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President-elect Donald Trump has made his dislike for student debt relief clear. Experts expect he will abandon or roll back many of the Biden administration’s student loan efforts — which on the campaign trail he called “vile” and “not even legal.”
Assuming the Trump administration abandons the U.S. Department of Education’s new affordable repayment plan, known as SAVE, borrowers enrolled in it will have to shift to a different repayment plan with significantly higher monthly payments.
SAVE was supposed to cut in half monthly bills for millions of federal student loan borrowers.
“For those worried about SAVE going away, I think it probably will, unfortunately,” said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit that helps borrowers navigate the repayment of their debt.
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